SMBSvsMBBETF Comparison
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Schwab Mortgage-Backed Securities ETF (SMBS) and iShares MBS ETF (MBB) belong to the same industry segment: MBS & ABS. SMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, MBB's top sector exposures are Industrials, Non-Corporate and Finance. SMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.04% for MBB. SMBS is down -1.53% year-to-date (YTD) with +$770M in YTD flows. MBB performs worse with -1.78% YTD performance, and -$1.79B in YTD flows. Run a side-by-side ETF comparison of SMBS and MBB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SMBS vs MBB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMBS MBB | -0.22%-0.25% | -2.21%-2.30% | -1.53%-1.78% | -1.08%-1.43% | n/a+17.04% | n/a-0.38% |
| Flows | SMBS MBB | -$72M-$3.31B | +$35M-$2.66B | +$770M-$1.79B | +$1.08B-$5.06B | -+$8.97B | -+$13.89B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMBS MBB | +5.52%+5.70% | +4.35%+4.61% | n/a+5.73% | n/a+6.66% |
| Max drawdown | SMBS MBB | -4.24%-4.27% | -5.12%-5.38% | n/a-5.38% | n/a-16.94% |
| Max drawdown duration | SMBS MBB | 52d52d | 229d229d | n/a229d | n/a1405d |
Trading data
SMBS | MBB | |
Last sale 10/16/2026 at 1:30 PM | $24.29 | $90.52 |
| Previous close 10/15/2026 | $24.32 | $90.59 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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SMBS | MBB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
SMBS | MBB | |
|---|---|---|
| Last price | $24.29 | $90.52 |
| 1D performance | -0.12% | -0.08% |
| AuM | $6.29 B | $35.27 B |
| E/R | 0.03% | 0.04% |
Characteristics
SMBS | MBB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Schwab ETFs | iShares |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | Bloomberg U.S. MBS Index |
| N° of holdings | 430 | 1237 |
| Asset class | Bonds | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | March 13, 2007 |
| ESG | No | No |
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Exposure
Countries
SMBS
USA
33.79%
Other
66.21%
MBB
USA
28.44%
Other
71.56%
Sectors
SMBS
Industrials
33.23%
Other
66.77%
MBB
Industrials
20.61%
Non-Corporate
7.6%
Other
71.79%
Diversification
SMBS
Total weight of top 15 holdings out of 15
5.8%
MBB
Total weight of top 15 holdings out of 15
16.82%
Top 15 holdings
Data as of August 31, 2026
SMBS
G2 MB0025, 5% 20nov2054, USD (ABS)
0.67%
US31427R6E50
0.59%
FR SD8469, 5.5% 1oct2054, USD (ABS)
0.48%
FR SD8193, 2% 1feb2052, USD (ABS)
0.40%
US31418DYX47
0.40%
FR SD8106, 2% 1nov2050, USD (ABS)
0.36%
US3618N6HU47
0.35%
FR RQ0110, 5% 1apr2056, USD (ABS)
0.34%
FR RQ0102, 5% 1mar2056, USD (ABS)
0.34%
US3132DWDC47
0.33%
FR SD7552, 2.5% 1jan2052, USD (ABS)
0.31%
US31418EQ948
0.31%
US3142J6BK85
0.30%
US3132DWAN39
0.30%
US3618N6NA19
0.30%
MBB
BlackRock Cash Funds - Institutional
7.60%
US01F0526982
1.26%
US21H0526945
1.05%
FR SD8146, 2% 1may2051, USD (ABS)
0.98%
US01F0506927
0.87%
US21H0606978
0.63%
G2 MB0025, 5% 20nov2054, USD (ABS)
0.55%
US21H0506988
0.55%
G2 MA7648, 2% 20oct2051, USD (ABS)
0.51%
US36179WTX64
0.50%
FN MA4492, 2% 1dec2051, USD (ABS)
0.49%
US36179WJR07
0.48%
US21H0426955
0.48%
FR SD8140, 2% 1apr2051, USD (ABS)
0.47%
FN MA4465, 2% 1nov2051, USD (ABS)
0.42%
Frequently asked questions about SMBS and MBB
How have the SMBS and MBB ETFs performed in 2026?
As of October 16, 2026, SMBS is down -1.53% year-to-date (YTD), while MBB has lost -1.78%. That puts SMBS better performer ahead so far this year.
Which ETF is attracting more investor money: SMBS or MBB?
Year-to-date, the SMBS ETF saw +$770M in flows, compared to -$1.79B for MBB.
Which ETF is more volatile: SMBS or MBB?
Over the past year, SMBS had a volatility of 4.35%, while MBB experienced 4.61%.
Which ETF is bigger: SMBS or MBB?
As of October 16, 2026, SMBS holds $6.29 B in assets under management (AUM), while MBB manages $35.27 B.
What sectors do the SMBS and MBB ETFs invest in?
SMBS leans toward sectors like Industrials. Meanwhile, MBB focuses on Industrials and Non-Corporate.
What are the top holdings of the SMBS ETF and MBB ETF?
SMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), US31427R6E50 and FR SD8469, 5.5% 1oct2054, USD (ABS). MBB holds in its top three: BlackRock Cash Funds - Institutional, US01F0526982 and US21H0526945.
Which ETF is more diversified: SMBS or MBB?
SMBS holds 1965 securities with 5.8% of its assets in the top 15. MBB has 9405 securities and a top 15 weight of 16.82%.
Latest news about SMBS & MBB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
MBB
NYSE x ETF Central ETF Education Series
March 5, 2024
MBB
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